Judge pauses blockbuster merger between TV station owners Nexstar and Tegna
NBC News • • business
Key Points:
- A federal judge has temporarily blocked the $6.2 billion merger between Nexstar Media Group and Tegna, citing antitrust concerns raised by DirecTV and several state attorneys general.
- The merger would create the largest local TV station operator in the U.S., reaching over 60% of households, surpassing the FCC's previous 39% ownership cap.
- The FCC and Department of Justice had approved the merger, with the FCC waiving ownership rules, a decision criticized for lack of transparency and bypassing a full commission vote.
- Opponents argue the merger could increase TV service costs, reduce competition, and harm local newsrooms, while Nexstar claims the deal is vital for sustaining local journalism.
- A 14-day temporary restraining order is in place pending a hearing scheduled for April 7, with Nexstar and Tegna yet to comment on the judge's ruling.
